Coinbase accused of lobbying against small-scale Bitcoin tax exemption policy, claiming it should only apply to stablecoins

CoinNetwork · 2026-03-12T07:48:08+00:00

Coinbase is accused of lobbying in front of U.S. lawmakers to oppose small Bitcoin transaction tax exemptions, suggesting they be limited to stablecoins. The move has raised concerns within the crypto community, which fears it could lead to policies being manipulated by special interest groups and impact the direction of innovation. The Bitcoin advocacy organization stated that restricting exemptions to stablecoins is a policy mistake and called for small Bitcoin transactions to be exempt from capital gains tax.

CoinNetwork

2026-03-12 07:48:08

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Crypto World News, March 12 — According to BitcoinNews, the cryptocurrency trading platform Coinbase is suspected of lobbying behind the scenes against establishing small transaction tax exemptions for Bitcoin in the U.S., suggesting that the exemption should be limited to stablecoins. Previously, Bitcoin advocate Marty Bent disclosed on social media that Coinbase told lawmakers “no one uses Bitcoin as currency,” and believed that establishing a small tax exemption for Bitcoin would be a “futile subsidy.” The crypto community finds this situation “very concerning” if true, aligning with recent worries over crypto legislation (such as the GENIUS Act), which suggest some policies may be influenced by special interest groups and regulatory capture rather than genuine innovation. Over the past three months, policy discussions on Capitol Hill have shifted noticeably, with some proposals favoring small transaction tax exemptions only for stablecoins and excluding Bitcoin. Additionally, the Bitcoin Policy Institute, a Bitcoin advocacy organization, stated that they are still in ongoing discussions with lawmakers and believe that limiting small tax exemptions solely to stablecoins would be a strategic mistake in U.S. policy. The organization has long advocated for exempting small Bitcoin transactions from capital gains tax.

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